|Bid||144.68 x 800|
|Ask||145.75 x 900|
|Day's Range||141.99 - 145.74|
|52 Week Range||106.11 - 149.99|
|Beta (3Y Monthly)||1.29|
|PE Ratio (TTM)||47.23|
|Earnings Date||Oct 23, 2019 - Oct 28, 2019|
|Forward Dividend & Yield||1.64 (1.16%)|
|1y Target Est||154.47|
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
McKesson Corporation (NYSE:MCK) is a stock with outstanding fundamental characteristics. When we build an investment...
Hope for a de-escalation of a trade war turned what would have otherwise been an off day into a sizeable win. On Tuesday, the S&P 500 finished up to the tune of 1.48%, pulling most stocks higher with it.Source: Shutterstock Apple (NASDAQ:AAPL) did a lot of the heavy lifting, though General Electric (NYSE:GE) wasn't far behind. The iPhone maker advanced 4.2%, as it's one of the key beneficiaries of a cooling tariff war. GE stock rose 3.5% for the same basic reason, though the CEO's $2.8 million investment in shares of his company fanned the bullish flames.Although few and far between, there were some losers. Advanced Micro Devices (NASDAQ:AMD) was one of them. Although it too benefits from eased trade tensions, traders are still struggling to tack on even more gains after this year's big rally.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 15 Growth Stocks to Buy for the Long Haul Headed into the midpoint of the week, it's Seagate Technology (NASDAQ:STX), McKesson (NYSE:MCK) and O'Reilly Automotive (NASDAQ:ORLY) that merit a closer inspection as trading prospects. Here's a detailed look at their stock charts. McKesson (MCK)With nothing more than a quick glance it would be easy to say McKesson is simply a volatile mess, and chalk up the bullishness seen since April to mere chance.The move, however, is better organized and more meaningful than it may seem on the surface. Although certainly still choppy from one day to the next, MCK stock has crossed important lines, and found support at other lines that had to provide support in order to keep the rally in motion. Then there's the kicker. * Click to EnlargeThanks to July's strength, McKesson has cleared the short-term technical ceiling plotted in yellow on the daily chart, and also the weekly chart's technical resistance that extends back to 2015's peak. * While still erratic, the daily volatility has been net-bullish. The purple 50-day average moved above the 200-day moving average line (marked in white on both stock charts) in June and never looked back. * The bears attempted to up-end the advance last week, but the 50-day moving average turned into a floor to renew what has now become an entrenched advance. O'Reilly Automotive (ORLY)O'Reilly Automotive shares, unlike most other stocks at the time, ended last year on a bullish foot and continued on this year. It has more to do with the industry itself than ORLY in particular, as rival name Advance Auto Parts (NYSE:AAP) dished out comparable returns. But, the underlying reasons don't change the effect.In that same vein though, recent weakness from AAP is slowly becoming clear in ORLY as well. Although O'Reilly Automotive shares have not yet reached their topping point, they're inching closer every day. One more bad day could do the trick. * 7 Stocks the Insiders Are Buying on Sale * Click to EnlargeThe tipping point, so to speak, as the support level that connects all the key lows going back to October, is plotted in yellow on both stock charts. * Another key floor now under attack is the 200-day moving average line, marked in white on both stock charts. It's being tested again this week, and that's happening on a regular basis. * Although not yet past the point of no return, notice that July's high is below April's. That's the first lower high seen in some time. Also note the fact that the most recent bearish MACD cross occurred at a lower level. Seagate Technology (STX)March's breakout effort from Seagate Technology ultimately failed. Although the move above the 200-day moving average line, plotted in white on both stock charts, was a bullish clue, the effort was halted at what has since become a well-established falling resistance line. It's plotted in yellow on both stock charts.The prospect of a recovery breakout has never really withered though. In fact, we're closer now to one than we've been in a long while. That's because a couple of key components to a full-blown bullish move weren't in place then, but are now. * Click to EnlargeChief among those components is the fact that the purple 50-day moving average line is now above the white 200-day average. Moreover, both the 50-day and the 200-day average lines are sloped upward. * It's only evident on the weekly chart, but STX stock has been logging higher lows since its early 2016 low. Buying on the dips has proven to be a fruitful strategy. * Although not seen here, shares of rival memory chip company Micron (NASDAQ:MU) are also performing well again, in step with a rebound in memory component prices. Herd-driven moves tend to last.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 15 Growth Stocks to Buy for the Long Haul * 5 More Cloud Stocks With Plenty of Potential * 5 Clean Energy ETFs to Buy for 2019 The post 3 Big Stock Charts for Wednesday: McKesson, O'Reilly Automotive and Seagate Technology appeared first on InvestorPlace.
STOCKSTOWATCHTODAY BLOG Three numbers to start your day: The Chinese are Expected to Buy 22 Million Cars This Year —that’s according to UBS analyst Paul Gong. That would be an 8% decline from last year.
(Bloomberg) -- McKesson Corp., Cardinal Health Inc. and AmerisourceBergen Corp. have proposed paying $10 billion to settle claims they helped to fuel the U.S. opioid epidemic -- the first sign of progress in resolving state lawsuits against the drug distributors, according to people familiar with negotiations.The companies, which deliver the majority of prescription medications to U.S. pharmacies, made the verbal proposal as part of talks with a group of state attorneys general, said three people familiar with the offer who asked that their names not be used because they weren’t authorized to speak publicly.It’s the first time in two years of discussions that the three distributors put a dollar figure on the table to resolve lawsuits against them, the people said. The National Association of Attorneys General -- handling talks on behalf of more than 35 states -- countered with a demand for $45 billion to cover costs from the public-health crisis of opioid addiction and overdoses, the people said. Any settlement would be paid out over decades, they said.Whether the distributors and attorneys general can agree to a deal remains uncertain. But reaching a compromise may not be the toughest hurdle. The distributors face almost 2,000 additional lawsuits brought by cities and counties across the U.S., with a separate group of lawyers leading litigation that has been consolidated under U.S. District Judge Daniel A. Polster in Cleveland. Getting them to sign on to any deal could prove challenging.McKesson spokeswoman Kristin Hunter Chasen declined to comment directly on settlement talks or whether the company had made an opening proffer. “While we regularly engage with other parties about a pathway towards resolution, the company has made no settlement offer,” Chasen said. “As we explore whether resolution is possible, we share Judge Polster’s view that ‘any resolution has to be a global one,’ which includes states, local governments, cities and counties.”Spokeswomen for AmerisourceBergen and Cardinal Health declined to comment on the discussions.“The states are in ongoing settlement talks and are the leaders” of the effort to find a global resolution to the opioid litigation, Paul Singer, a lawyer for Texas Attorney General Ken Paxson, told Polster at a hearing in Cleveland on Tuesday. Singer declined to comment on the $10 billion settlement proposal by the three distributors.A global settlement covering all opioid manufacturers and distributors may end up costing the companies a combined $30 billion to $55 billion, according to analysts at Nephron Research, an independent health-care investment research firm. Wells Fargo analyst David Maris said a final tally could be even higher, at almost $100 billion.Flood of PillsThe drug distributors generate large amounts of cash that could be used to pay a settlement. In its 2019 fiscal year, San Francisco-based McKesson produced $4.04 billion from operations, according to data compiled by Bloomberg. In fiscal 2018, Cardinal generated $2.77 billion and AmerisourceBergen produced $1.41 billion.Shares of the drug distributors fell Tuesday, reversing gains from earlier in the day. McKesson tumbled as much as 7.3%, Cardinal dropped as much as 7.7%, and AmerisourceBergen dropped as much as 6.8%.At the heart of the lawsuits are allegations that drug makers including Purdue Pharma LP and Johnson & Johnson downplayed the health risks of opioids and oversold their benefits through hyper-aggressive marketing campaigns. Distributors, considered to have the deeper pockets by plaintiffs’ lawyers, are accused of ignoring red flags about misuse of the painkillers and illegally flooding states with pills.One pharmacy in Kermit, West Virginia -- population 400 -- received almost 5 million doses from McKesson between 2005 and 2006, records show. About 30 miles from Kermit, the company shipped more than 5.8 million to a pharmacy in Mount Gay -- population 1,800 -- between 2006 and 2014. Another 2.3 million went to a pharmacy three miles away.McKesson, Cardinal Health and AmerisourceBergen, along with other distributors, shipped a total of 76 billion pain pills over a six-year period starting in 2006, according to the U.S. Drug Enforcement Agency. The companies deny the governments’ allegations and have advanced dozens of legal and factual defenses, saying they complied with all state and federal laws.At Tuesday’s hearing in Cleveland, the cities and counties asked the federal judge for permission to create their own negotiating class of 24,000 local governments. Many state attorneys general oppose the request. Polster has yet to rule.The first trial of the many local-government claims is set to start Oct. 21, but the defendant companies are seeking a delay, saying in court filings that they need more time to prepare for what will be “one of the most complicated trials in legal history.”While some states have the power to resolve opioid cases with deals that supercede separate litigation by local governments, many don’t, said Elizabeth Burch, a University of Georgia law professor.“So it’s hard to see how this deal would fly given it can’t be crammed down on all the cities and counties,” Burch said. “The companies want closure. They don’t want to have to do two settlements.”To address that problem, the state attorneys general are trying to structure a deal with distributors that offers incentives for cities and counties to participate, according to people familiar with the talks. Those joining the state early are likely to get a greater share of the settlement pie, they said.At the same time, it’s likely McKesson, Cardinal Health and AmerisourceBergen will demand a high percentage of cities and counties sign off on the settlement, the people said. If not, the companies could ditch the deal or cut cash payments.Little Incentive“It just may not make sense for the cities and counties to join this from a financial standpoint because they may be able to get more” through the cases they brought, said Carl Tobias, a University of Richmond law professor who teaches about mass torts.The cities and counties are worried any state deal would get used for general state expenses rather than local needs. They point to the $246 billion settlement in 1998 with tobacco companies in which few funds made their way to municipalities.A spokeswoman for three of the plaintiffs’ attorneys leading the cases brought by local governments -- Joe Rice, Paul Hanly and Paul Farrell -- didn’t return a call seeking comment on whether McKesson, Cardinal Health and AmerisourceBergen made the same $10 billion settlement offer in the talks sponsored by the judge.There already have been some state settlements.In May, West Virginia agreed to accept $37 million from McKesson to resolve a suit brought by that state’s attorney general alleging it improperly distributed opioids there. West Virginia has the highest rate of drug-overdose deaths in the U.S.Oklahoma, which sued drug makers rather than distributors, agreed in March to a $270 million payment from Purdue and then two months later accepted an $85 million accord with Teva Pharmaceutical Industries Ltd. A judge will rule later this month on Oklahoma’s claim J&J should pay as much as $17.5 billion for its role as the opioid crisis’ “kingpin.” The state plans to use the money for treatment of opioid addiction and research into the problem.The consolidated federal case is In Re National Prescription Opioid Litigation, 17-md-2804, U.S. District Court, Northern District of Ohio (Cleveland).(Updates with additional comment from McKesson, comment from attorney representing Texas, and updates share declines.)\--With assistance from Robert Langreth.To contact the reporter on this story: Jef Feeley in Wilmington, Delaware at email@example.comTo contact the editors responsible for this story: David Glovin at firstname.lastname@example.org, Steve StrothFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
A federal judge on Tuesday expressed support for a novel plan by lawyers representing cities and counties suing drug companies over the U.S. opioid epidemic that would bring every community nationally into their settlement talks despite objections from most states. "There has to be some vehicle to resolve these lawsuits," said Polster, who added he planned to rule quickly. The proposal calls for creating a class of up to 3,000 counties and 30,000 cities, towns and villages that could vote on whether to accept any settlement the plaintiffs reach with defendants in the opioid litigation.
Bloomberg reported that a coalition of state attorneys general had demanded $45 billion from the three leading drug distributors in the U.S. to settle litigation over opioids.
The country's three largest wholesale pharmaceutical distributors — a group that includes Valley Forge-based AmerisourceBergen — has reportedly proposed a $10 billion settlement to resolve claims that they played a role in contributing to the country's ongoing opioid addiction epidemic.
Shares of McKesson Corp. , Cardinal Health Inc. and AmersourceBergen Corp. were all down more than 6% Tuesday afternoon after Bloomberg reported the companies had proposed paying $10 billion to settle claims they helped fuel the opioid epidemic in the U.S. However, the National Association of Attorneys General, which is handling talks on behalf of more than 35 states, countered with a demand for $45 billion, Bloomberg reported. The drug distributors are facing almost 2,000 more lawsuits from cities and counties across the country. Shares of McKesson have gained 22.2% so far this year, while AmerisourceBergen's stock has gained 11.6% and Cardinal Health shares have fallen 4.7%. The S&P 500 has gained 14.3%.
Hundreds of lawsuits by states and cities have been filed nationally accusing drugmakers of deceptively marketing opioids and distributors such as AmerisourceBergen Corp, Cardinal Health Inc and McKesson Corp of ignoring suspicious orders. Shares of AmerisourceBergen, McKesson and Cardinal Health were down about 5%.
(Bloomberg Opinion) -- There’s no quick fix to the opioid crisis, and there’s no easy way out for the companies who allegedly helped spur it.Mallinckrodt Plc announced on Tuesday that it’s suspending a planned spinoff of its generic and opioid drug unit. The move could have helped shield its branded drug business from legal risk. The culprit for the delay? “Current market conditions and developments, including increased uncertainties created by the opioid litigation,” according to a statement. The update overshadowed second-quarter earnings that beat Wall Street expectations, and Mallinckrodt shares slumped as much as 20%.Mallinckrodt was a large manufacturer of generic opioids as the crisis escalated and could face billions in liabilities, along with other drugmakers from Johnson & Johnson to Teva Pharmaceutical Industries Ltd. Management still wants to find a way to split the business but in the aftermath of the suspension, it’s clear that it won’t be a quick or easy process. In another part of the industry, Tuesday also saw drug distributors including McKesson Corp and AmerisourceBergen Corp. propose paying $10 billion to settle state lawsuits over their role, according to Bloomberg News report. The states countered with a $45 billion demand — as if investors needed another reminder of the issue’s scale and complexity.Mallinckrodt is under heavy pressure to cut opioid risk, and that’s because it’s not the company’s only trouble spot. The drugmaker has limited cash reserves and heavy debt, and its best-selling product, a decades-old drug called Acthar — used in infantile spasms and other conditions — is facing reimbursement issues. Splitting the business could partially untangle concentrated risks that have seen Mallinckrodt’s market value drop from over $15 billion to under $500 million in less than five years. But it appears the specter of opioid liabilities is much too toxic for the transaction to be feasible.Mallinckrodt’s troubles serve as a reminder that the opioid reckoning is still in its early stages. Investors can draw the same conclusion from the distributor settlement proposal, which is but an opening bid. Those negotiations only cover certain states; the companies also face thousands of additional city and county suits, and there is no guarantee that other groups will sign on to the deal. Every involved set of the industry — pharmacies and pharmacy benefit managers included — will likely have to deal with a similar dynamic. It will be years before investors have a clear picture of how big the risk is.Some problems are too big to engineer your way out of. Sooner or later, drugmakers, distributors and retailers will likely have to pay up in a big way.To contact the author of this story: Max Nisen at email@example.comTo contact the editor responsible for this story: Beth Williams at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Max Nisen is a Bloomberg Opinion columnist covering biotech, pharma and health care. He previously wrote about management and corporate strategy for Quartz and Business Insider.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Three pharma distributors propose a $10 billion plan to a group of state attorneys general in opioid-abuse settlement.
A federal judge in Ohio will hear a proposal to create a “negotiation class.” State attorneys general are opposed to the idea.
McKesson (MCK) is at a 52-week high, but can investors hope for more gains in the future? We take a look at the company's fundamentals for clues.
Promising earnings reports from two of the three companies that distribute nearly all of the drugs in the U.S. are boosting the sector.
McKesson's (MCK) Q1 results benefit from higher revenues and solid show by U.S. Pharmaceutical and Specialty, and Medical-Surgical Solutions.
Shares of McKesson Corp. rose more than 3% in the extended session Wednesday after the health-care company reported fiscal 2020 first-quarter per-share profit below Wall Street expectations but raised its profit guidance for the year and its quarterly dividend. McKesson said it earned $423 million, or $2.27 a share, versus a loss of $138 million, or 69 cents a share, in the year-ago quarter. Revenue rose 6% to $55.7 billion in the quarter. Analysts polled by FactSet had expected earnings of $2.61 a share on sales of $54 billion. The company raised its fiscal 2020 guidance to $14 to $14.60 from $13.85 to $14.45 previously. McKesson's board increased the quarterly dividend by 5% to 41 cents per share. The dividend is payable Oct. 1 to shareholders of record Sept. 3. Shares of McKesson had ended the regular trading day down 2.5%.
IRVING, Texas-- -- First-quarter fiscal 2020 revenues of $55.7 billion, an increase of 6%. First-quarter GAAP earnings per diluted share from continuing operations of $2.27, up 429% year over year. First-quarter Adjusted Earnings per diluted share of $3.31, up 14% year over year. Raised fiscal 2020 Adjusted EPS guidance range to $14.00 to $14.60 from $13.85 to $14.45. Board of Directors increased the ...
On Wednesday, July 31, McKesson (NYSE: MCK ) will release its latest earnings report. Check out Benzinga's preview to understand the implications. Earnings and Revenue Wall Street expects EPS of $3.02 and ...
A new report from Bloomberg claims major drug distributors are banding together on a $10 billion settlement to combat a slew of lawsuits implicating them in America's opioid epidemic. Yahoo Finance's Anjalee Khemlani joins The Final Round to discuss.